Binance Coin Mid-Week Analysis – Resistance Levels in Play – 30/09/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin Price Resistance

It’s been a bullish 1st half of the week for Binance Coin.

Binance Coin fell to a Sunday current week low $25.16 before making a move.

Steering clear of the 38.2% FIB of $23.5 and the first major support level at $22.93, Binance Coin rallied to a Tuesday intraweek high $29.17.

Binance Coin broke through the 23.6% FIB of $27.5 and the first major resistance level at $28.52.

In spite of a pullback to sub-$29 levels late on Tuesday, Binance Coin held above the first major resistance level.

For the current week, Sunday through Tuesday, Binance Coin was up by 10.23% to $28.89.

3 consecutive days in the green that included a 7.07% rally on Tuesday delivered the upside.

The near-term bullish trend remained intact, supported by the latest rebound. For the bears, a fall through the 62% FIB of $17 would form a near-term bearish trend.

It has been a particularly bullish start to the year in spite of a mid-year blip. Year-to-date, Binance Coin was up by 111.65%.

At the time of writing, Binance Coin was down by 0.71% to $28.68. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high $28.91 before falling to a low $28.27.

Binance Coin briefly slipped through the first major resistance level at $28.52 before finding support.

BNB/USD 30/09/20 Daily Chart

For the remainder of the week

Binance Coin would need to avoid through the first major resistance level and 23.6% FIB of $27.5 to support further upside.

A move back through the current week high $29.17 would bring the second major resistance level at $30.84 into play.

Support from the broader market would be needed, however, for Binance Coin to break back through to $30 levels.

Barring an extended crypto rebound, resistance at $30 would likely pin Binance Coin back.

In the event of an extended breakout, Binance Coin could test resistance at $32 before any pullback.

A fall back through the 23.6% FIB of $27.5, however, would bring the pivot level at $25.25 into play.

Barring an extended crypto sell-off, Binance Coin should steer well clear of the first major support level at $22.93.

The 38.2% FIB of $23.5 should limit any downside in the event of a reversal.

Looking at the Technical Indicators

Major Support Level: $22.93

Major Resistance Level: $28.52

23.6% FIB Retracement Level: $27.5

38.2% FIB Retracement Level: $23.5

62% FIB Retracement Level: $17.00

The Crypto Daily – Movers and Shakers – September 29th, 2020

Depositphotos_193678068_s-2019

 

Bitcoin, BTC to USD, fell by 0.83% on Monday. Reversing a 0.48% loss from Sunday, Bitcoin ended the day at $10,714.0.

It was a bullish start to the day. Bitcoin rallied to an early morning intraday high $10,986.0 before hitting reverse.

The early rally saw Bitcoin break through the first major resistance level at $10,887 and the second major resistance level at $10,970.

Hitting reverse through the rest of the day, Bitcoin slid to a final hour intraday low $10,656.2.

Finding support at the first major support level at $10,657, Bitcoin moved back through to $10,700 levels to limit the downside.

The near-term bullish trend remained intact, in spite of the latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Monday.

Chainlink slid by 4.96% to lead the way down.

Bitcoin Cash SV (-1.43%), Cardano’s ADA (-1.05%), Ethereum (-1.01%), Litecoin (-1.89%), and Ripple’s XRP (-1.06%) also joined Bitcoin in the red.

It was a bullish day for the rest of the majors, however.

Polkadot rallied by 3.98% to lead the way.

Binance Coin (+2.78%), Bitcoin Cash ABC (+0.08%), and Cypto.com Coin (+1.10%) also found support.

At the start of the week, the crypto total market rose to a Monday high $332.76bn before sliding to a low $322.83bn. At the time of writing, the total market cap stood at $325.10bn.

Bitcoin’s dominance rose to a Monday high 61.18% before falling to a low 60.78%. At the time of writing, Bitcoin’s dominance stood at 60.91%.

This Morning

At the time of writing, Bitcoin was up by 0.14% to $10,729.0. It was a mixed start to the day. Bitcoin fell to an early morning low $10,674.2 before rising to a high $10,745.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was down by 2.11% to buck the trend early on.

It was a bullish start to the day for the rest of the majors, however.

At the time of writing, Polkadot was up by 3.47% to lead the way.

BTC/USD 29/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $10,785 to bring the first major resistance level at $10,915 into play.

Bitcoin would need plenty of support, however, to break back through to $10,900 levels.

Barring an extended crypto rally, the second major resistance level and resistance at $11,000 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,151 before any pullback.

Failure to move through the $10,785 pivot would bring the first major support level at $10,585 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,500 levels. The second major support level sits at $10,456.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 27/09/20

Coins of crypto currency are presented on a dark background. Virtual money concept.

Binance Coin

Binance Coin fell by 3.57% in the week ending 26th September. Following on from a 4.70% decline from the week prior, Binance Coin ended the week at $26.20.

It was a bearish start to the week. Binance Coin slid from a Sunday intraweek high $26.80 to a Monday intraweek low $21.98.

Falling short of the major resistance levels, Binance Coin fell through the first major support level at $24.47. More significantly, Binance Coin also fell through the 38.2% FIB of $23.5.

Coming within range of the second major support level at $21.75, bounced back to $26 levels on Saturday.

The partial recovery saw Binance break back through the 38.2% FIB and the first major support level.

3 days in the red that included a 12.29% slide on Monday did the damage. 3 consecutive days in the green at the end of the week limited the downside, however.

For the week ahead

Binance Coin would need to avoid a fall through the $25.25 pivot to bring the 23.6% FIB of $27.5 and the first major resistance level at $28.52into play.

Support from the broader market would be needed for Binance Coin to break out from the 23.6% FIB.

Barring another extended crypto rally, the first major resistance level would likely limit any upside in the week.

In the event of another crypto rally, the second major resistance level at $30.84 could come into play.

Failure to avoid a fall through the $25.25 pivot would bring 38.2% FIB and the first major support level at $22.93 into play.

Barring a crypto sell-off, Binance Coin should steer well clear of sub-$20 levels in the week.

The second major support level sits at $19.66.

At the time of writing, Binance Coin was up by 1.92% to $26.70. A bullish start to the week saw Binance Coin rise from an early Sunday low $26.05 to a high $26.85.

Binance Coin left the major support and resistance levels untested at the start of the week.

BNB/USD 27/09/20 Daily Chart

Litecoin

Litecoin slid by 5.01% in the week ending 26th September. Following on from a 4.66% fall from the previous week, Litecoin ended the week at $46.06.

It was also a bearish start to the week. Litecoin slid from a Sunday intraweek high $48.52 to a Monday intraweek low $41.64 before finding support.

The sell-off saw Litecoin fall through the first major support level at $46.64 and the second major support level at $44.79.

Finding support in the 2nd half of the week, Litecoin broke back through the second major support level to end the week at $46 levels.

The first major support level at $46.64 pinned Litecoin back late in the week.

3 days in the red, which included an 8.41% slide on Monday, delivered the downside for the week.

A run of 3 consecutive days in the green in the 2nd half of the week cut the deficit, however.

For the week ahead

Litecoin would need to avoid a fall through the $45.41 pivot to support a run at the first major resistance level at $49.17.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $48.52.

Barring an extended crypto rally, the first major resistance level and resistance at $50 would likely limit any upside.

In the event of a breakout, the second major resistance level at $52.29 would likely come into play.

Failure to avoid a fall through the $45.41 pivot would bring the first major support level at $42.29 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$40 and the second major support level at $38.53.

At the time of writing, Litecoin was up by 0.61% to $46.34. A bullish start to the day saw Litecoin rise from an early morning low $46.00 to a high $46.34.

Litecoin left the major support and resistance levels untested at the start of the week.

LTC/USD 27/09/20 Daily Chart

Tron’s TRX

Tron’s TRX fell by 1.14% in the week ending 26th September. Following on from a 15.30% tumble from the previous week, Tron’s TRX ended the week at $0.027566.

It was a bearish 1st half of the week. Tron’s TRX fell from a Sunday high $0.028031 to a Wednesday intraweek low $0.024028 before finding support.

The reversal saw Tron’s TRX fall through the first major support level at $0.02424 before recovering to $0.027 levels.

A bullish 2nd half of the week saw Tron’s TRX strike a Saturday intraweek high $0.029349 before falling back to $0.027 levels.

The 23.6% FIB of $0.0291 pinned Tron’s TRX back at the end of the week.

3 days in the red that included a 7.78% slide on Monday delivered the downside. A 5.86% rally on Thursday and a 3.98% gain on Friday limited the downside for the week, however.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.02688 pivot to support a run at the 23.6% FIB and the first major resistance level at $0.02972.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.02935.

Barring a broad-based crypto rally, the first major resistance level and resistance at $0.030 would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.03220 would likely come into play.

Failure to avoid a fall through the $0.02688 pivot would bring the first major support level at $0.02440 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.02156.

At the time of writing, Tron’s TRX was up by 0.29% to $0.02733. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.02702 before rising to a high $0.027451.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

TRX/USD 27/09/20 Daily Chart

The Crypto Daily – Movers and Shakers – September 24th, 2020

crypto currency mining concept

Bitcoin, BTC to USD, fell by 2.72% on Wednesday. Reversing a 1.09% rise from Tuesday, Bitcoin ended the day at $10,263.0.

It was a mixed start to the day. Bitcoin fell from an early morning intraday high $10,555.0 to a mid-morning low $10,406.0.

Finding support at the first major support level at $10,418. Bitcoin moved back through to $10,500 levels.

Falling well short of the first major resistance level at $10,638, Bitcoin slid to a late intraday low $10,152.0.

Bitcoin fell through the first major support level at $10,418 and the second major support level at $10,288.

Finding late support a move back through to $10,260 levels reduced the deficit for the day. The second major support level at $10,288 pinned Bitcoin back, however.

The near-term bullish trend remained intact, in spite of the latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Wednesday.

Chainlink tumbled by 12.76% to lead the way down.

Binance Coin (-5.08%), Bitcoin Cash ABC (-4.68%), Cardano’s ADA (-6.04%), Ethereum (-6.86%), and Ripple’s XRP (-5.02%) also saw heavy losses.

Bitcoin Cash SV (-3.62%), Crypto.com Coin (-0.59%), Litecoin (-3.53%), and Polkadot (-1.01%) saw relatively modest losses on the day.

In the current week, the crypto total market rose to a Monday high $334.04bn before sliding to a Wednesday low $300.97bn. At the time of writing, the total market cap stood at $306.27bn.

Bitcoin’s dominance fell to a Monday low 60.89% before rising to a Wednesday high 62.31%. At the time of writing, Bitcoin’s dominance stood at 62.07%.

This Morning

At the time of writing, Bitcoin was up by 0.45% to $10,309.0. A mixed start to the day saw Bitcoin fall to an early morning low $10,222.0 before rising to a high $10,336.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (-0.11%), Crypto.com Coin (-1.92%), and Polkadot (-0.02%) saw red early on.

It was a bullish start to the day for the rest of the majors, however.

At the time of writing, Chainlink was up by 4.30% to lead the way.

BTC/USD 24/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $10,323 pivot level to support a run at the first major resistance level at $10,495.

Support from the broader market would be needed, however, for Bitcoin to break back through to $10,400 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $10,555.0 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test resistance at $10,600 before any pullback. Bitcoin would likely come up short of the second major resistance level at $10,726 however.

Failure to move back through the $10,323 pivot would bring the first major support level at $10,092 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,000 levels and the second major support level at $9,920.

Binance Coin Mid-Week Analysis – Support Levels in Play – 23/09/20

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Support

It’s been a bearish 1st half of the week for Binance Coin.

Binance Coin fell from a Sunday current week high $27.57 to a Monday current week low $21.98.

At the start of the week, Binance Coin fell well short of the first major resistance level at $31.20 and the pivot level at $28.48.

Coming up against the 23.6% FIB of $27.50, however, Binance Coin fell through the first major support level at $24.47. More significantly, the sell-off also saw Binance Coin also fall through the 38.2% FIB of $23.50.

Coming within range of the second major support at $21.75, Binance Coin found much-needed support on Tuesday.

A relatively bullish day on Tuesday saw Binance Coin break back through the 38.2% FIB of $23.50 to end the day at $24 levels.

For the current week, Sunday through Tuesday, Binance Coin was down by 11.45% to $24.06. A 12.29% tumble on Monday, following a 3.09% loss on Sunday delivered the early loss.

A 4.02% gain on Tuesday offset some of the losses, however.

The near-term bullish trend remained intact, in spite of the latest pullback, however. For the bears, a fall through the 62% FIB of $17 would form a near-term bearish trend.

It has been a particularly bullish start to the year in spite of a reversal, however. Having been up by as much as 101% year-to-date, Binance Coin was still up by 76.3% year-to-date.

At the time of writing, Binance Coin was up by 0.37% to $24.15. A mixed start to the day on Wednesday saw Binance Coin fall to an early morning low $23.85 before rising to a high $24.44.

The first major support level at $24.47 pinned Binance Coin back early in the day.

BNB/USD 23/09/20 Daily Chart

For the remainder of the week

Binance Coin would need to move through the $28.48 pivot level to support a run at the first major resistance level at $31.20.

Support from the broader market would be needed, however, for Binance Coin to break back through the first major support level at $24.47.

Barring an extended crypto rebound, resistance at the 23.6% FIB of $27.5 would likely limit any upside.

In the event of an extended breakout, Binance Coin could test resistance at $30. Binance Coin would likely come up short of the first major resistance level at $31.20, however.

A fall back through the 38.2% FIB of $23.5 would bring the second major support level at $21.75 back into play.

Barring an extended crypto sell-off, however, Binance Coin should steer well clear of sub-$20 levels.

The 62% FIB sits at $17, with the second major support level sitting at $15.06.

Looking at the Technical Indicators

Major Support Level: $24.47

Major Resistance Level: $31.20

23.6% FIB Retracement Level: $27.5

38.2% FIB Retracement Level: $23.5

62% FIB Retracement Level: $17.00

The Crypto Daily – Movers and Shakers – September 21st, 2020

Cryptomania

Bitcoin, BTC to USD, slid by 4.57% on Monday. Following on from a 1.47% decline on Sunday, Bitcoin ended the day at $10,435.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,000.0 before hitting reverse.

Falling short of the first major resistance level at $11,095, Bitcoin slid to an early afternoon intraday low $10,321.0.

Bitcoin fell through the first major support level at $10,777 and the second major support level at $10,618.

Finding late support, however, Bitcoin tested resistance at $10,500 before wrapping up the day at $10,435.0.

The near-term bullish trend remained intact, supported by the latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish start to the week.

Cardano’s ADA and Tezos led the way down with losses of 10.73% and 11.06% respectively.

Bitcoin Cash ABC (-5.98%), EOS (-6.31%), Ethereum (-8.33%), Litecoin (-8.43%), Ripple’s XRP (-6.39%), Stellar’s Lumen (-8.98%), and Tron’s TRX (-7.76%) also saw heavy losses.

Binance Coin (-2.41%), Bitcoin Cash SV (-0.75%), and Monero’s XMR (-3.34%) saw relatively modest losses on the day.

At the start of the week, the crypto total market rose to a Monday high $334.04bn before sliding to a Monday low $306.69bn. At the time of writing, the total market cap stood at $313.92bn.

Bitcoin’s dominance fell to a Monday low 60.89% before rising to a high 62.04%. At the time of writing, Bitcoin’s dominance stood at 61.62%.

This Morning

At the time of writing, Bitcoin was up by 0.31% to $10,467.0. A mixed start to the day saw Bitcoin fall to an early morning low $10,465.0 before rising to a high $10,488.2.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV was down by 0.11% to buck the trend early on.

It was a bullish start to the day for the rest of the majors, however.

At the time of writing, Tezos was up by 1.91% to lead the way.

BTC/USD 22/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $10,585 pivot level to support a run at the first major resistance level at $10,850.

Support from the broader market would be needed, however, for Bitcoin to break out from $10,700 levels.

Barring an extended crypto rally, resistance at $10,700 would likely leave Bitcoin short of the first major resistance level.

In the event of a crypto breakout, Bitcoin could test resistance at $11,000 before any pullback. The second major resistance level sits at $11,264.

Failure to move through the $10,585 pivot would bring the first major support level at $10,171 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,000 levels. The second major support level sits at $9,906.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 20/09/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin fell by 4.70% in the week ending 19th September. Partially reversing a 46.36% surge from the week prior, Binance Coin ended the week at $27.18.

It was a bullish start to the week. Binance Coin rallied to a Monday intraweek high and new swing hi $32.5 before hitting reverse.

Off the back of 2 consecutive days in the green, Binance Coin broke through the first major resistance level at $31.91.

The reversal saw, however, saw Binance Coin slide to a Thursday intraweek low $25.77.

While steering well clear of the first major support level at $21.78, Binance Coin fell through the 23.6% FIB of $27.5.

Range-bound through the latter part of the week, Binance Coin saw resistance at $29 limit any upside. Steering clear of the 38.2% FIB of $23.5 and the first major support level at $21.78 was key in the week, however.

4 days in the green that included a 9.30% jump last Sunday failed to prevent a weekly loss. A 13.36% slide on Tuesday did the damage.

For the week ahead

Binance Coin would need to move through 23.6% FIB of $27.5 and the $28.48 pivot to bring the first major resistance level at $31.20 into play.

Support from the broader market would be needed for Binance Coin to break back through to $30 levels.

Barring another extended crypto rally, the first major resistance level should leave Binance Coin short of $32 levels.

In the event of another crypto rally, the second major resistance level at $35.21 could come into play.

Failure to move through the 23.6% of $27.5 and the $28.48 pivot would bring the first major support level at $24.47 into play.

Barring a crypto sell-off, Binance Coin should steer well clear of sub-$20 levels in the week.

The 38.2% FIB of $23.5 and the second major support level at $21.75 should limit any downside.

At the time of writing, Binance Coin was down by 0.11% to $27.15. A bearish start to the week saw Binance Coin fall from an early morning high $27.24 to a low $26.93 on Sunday morning.

Binance Coin left the major support and resistance levels untested at the start of the week.

BNB/USD 20/09/20 Daily Chart

Litecoin

Litecoin slid by 4.66% in the week ending 19th September. Partially reversing a 6.31% gain from the previous week, Litecoin ended the week at $48.48.

It was a choppy start to the week. A 5.25% slide on Sunday saw a Litecoin fall from an intraweek high $51.05 to a Monday low $47.15 before finding support.

Steering clear of the first major support level at $47.00, Litecoin briefly recovered to $50 levels before sliding back into the deep red.

Litecoin fell to a Wednesday intraweek low $47.00 before wrapping up the week at $48 levels.

The first major support level at $47.00 limited the downside in the week.

5 days in the red, which included the 5.25% slide last Sunday, delivered the downside for the week.

For the week ahead

Litecoin would need to move through the $48.84 pivot to support a run at the first major resistance level at $50.69.

Support from the broader market would be needed, however, for Litecoin to break back through to $50 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $51.05 would likely limit any upside.

In the event of a breakout, the second major resistance level at $52.89 should leave Litecoin short of the 23.6% FIB of $54.

Failure to move through the $48.84 pivot would bring the first major support level at $46.64 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $44.79.

At the time of writing, Litecoin was down by 0.04% to $48.46. A bearish start to the week saw Litecoin fall from an early morning high $48.49 to a low $48.32.

Litecoin left the major support and resistance levels untested at the start of the week.

LTC/USD 20/09/20 Daily Chart

Tron’s TRX

Tron’s TRX slid by 15.30% in the week ending 19th September. Reversing a 9.72% rally from the previous week, Tron’s TRX ended the week at $0.027693.

It was a bearish start to the week. Tron’s TRX fell from a Sunday intraweek high $0.003321 to a Wednesday intraweek low $0.025271 before finding support.

The sell-off saw Tron’s TRX fall through the 23.6% FIB of $0.0291 and the first major support level at $0.02807.

Steering clear of sub-$0.025 levels, Tron’s TRX revisited $0.0299 levels before easing back. The 23.6% FIB of $0.0291 pinned Tron’s TRX back late in the week.

5 days in the red that included a 6.4% slide on Sunday and an 8.2% tumble on Tuesday delivered the downside. A 6.95% rally on Thursday limited the downside for the week, however.

For the week ahead

Tron’s TRX would need to move through the $0.02872 pivot and the 23.6% FIB $0.0291 to support a run at the first major resistance level at $0.03218.

Support from the broader market would be needed, however, for Tron’s TRX to break out from $0.030 levels.

Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.03666 would likely leave Tron’s TRX short of $0.04 levels in the week.

Failure to move through the $0.02872 pivot would bring the first major support level at $0.02424 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of the second major support level at $0.02078.

At the time of writing, Tron’s TRX was down by 0.95% to $0.02743. A bearish start to the week saw Tron’s TRX fall from an early Sunday morning high $0.027698 to a low $0.027167.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

TRX/USD 20/09/20 Daily Chart

Binance Coin Mid-Week Analysis – Support Levels in Play – 16/09/20

crypto currency mining concept

Binance Coin Price Support

It’s been a mixed 1st half of the week for Binance Coin.

Binance Coin fell to a Sunday low $27.58 before making a move.

Steering clear of the first major support level at $21.78, Binance Coin rallied to a Monday current week high and new swing hi $34.06.

Binance Coin broke through the first major resistance level at $31.91 before hitting reverse.

The reversal on Tuesday, saw Binance Coin slide back through the first major resistance level to a Tuesday low $26.35.

While continuing to steer clear of the major support levels, Binance Coin fell through the 23.6% FIB of $27.5 on Tuesday.

Tuesday’s sell-off saw Binance Coin reverse gains from Sunday and Monday to sit in the red mid-week.

For the current week, Sunday through Tuesday, Binance Coin was down by 4.98% to $27.1. A 13.36% tumble on Tuesday reversed two days in the green that included a 9.3% breakout on Sunday.

The near-term bullish trend remained intact, however, supported by this week’s breakthrough to $34 levels.

It has been a particularly bullish start to the year in spite of a reversal. Having been up by as much as 101% year-to-date, Binance Coin was up by 98.53% year-to-date.

At the time of writing, Binance Coin was down by 3.48% to $26.16. A bearish start to the day on Wednesday saw Binance Coin fall from an early morning high $27.32 to a current week low $25.80.

Binance Coin continued to leave the major support and resistance levels untested early in the day.

BNB/USD 16/09/20 Daily Chart

For the remainder of the week

Binance Coin would need to avoid a fall back through the $25.19 pivot level to support another run at the first major resistance level at $31.91.

Support from the broader market would be needed, however, for Binance Coin to break out from the 23.6% FIB of $27.5 to $30 levels.

Barring an extended crypto rebound, the first major resistance level would likely limit any upside.

In the event of an extended breakout, Binance Coin could test the second major resistance level at $35.32 before any pullback.

A fall through the $25.19 pivot level would bring the 38.2% FIB of $23.5 and the first major support level at $21.78 into play.

Barring an extended crypto sell-off, however, Binance Coin should steer well clear of sub-$20 levels.

The 62% FIB sits at $17, with the second major support level at $15.06.

Looking at the Technical Indicators

Major Support Level: $21.78

Major Resistance Level: $31.91

23.6% FIB Retracement Level: $27.5

38.2% FIB Retracement Level: $23.5

62% FIB Retracement Level: $17.00

The Crypto Daily – Movers and Shakers – September 16th, 2020

bitcoin with us dollars and calculator

Bitcoin, BTC to USD, rose by 1.00% on Tuesday. Following on from a 3.47% rally on Monday, Bitcoin ended the day at $10,797.9.

It was a choppy start to the day. Bitcoin rose to an early morning high $10,840.0 before sliding to a late morning intraday low $10,645.0.

Steering well clear of the first major support level at $10,375, Bitcoin rallied to a mid-day intraday high $10,944.0.

Bitcoin broke through the first major resistance level at $10,889 to test resistance at $11,000.

Easing back in the afternoon, Bitcoin slipped to $10,720 levels before briefly revisiting $10,890 levels.

Coming up against the first major resistance level at $10,889, Bitcoin slipped back to end the day at sub-$10,800 levels.

The near-term bullish trend remained intact, in spite of the latest pullback to sub-$10,000. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was another mixed day on Tuesday.

Bitcoin Cash ABC joined Bitcoin in the green, with a gain of 3.69% to buck the trend.

It was a bearish day for the rest of the pack.

Binance Coin and Tron’s TRX led the way down, with losses of 13.34% and 7.84% respectively.

Cardano’s ADA (-3.63%), Ethereum (-3.46%), Stellar’s Lumen (-2.93%), and Tezos (-4.23%) also struggled.

Bitcoin Cash SV (-0.12%), EOS (-0.92%), Litecoin (-1.59%), Monero’s XMR (-0.69%), and Ripple’s XRP (-0.92%) saw relatively modest losses on the day.

In the current week, the crypto total market fell to a Monday low $314.21bn before rising to a Tuesday high $337.61bn. At the time of writing, the total market cap stood at $322.44bn.

Bitcoin’s dominance rose from a Monday low 59.64% to an early Wednesday high 61.39%. At the time of writing, Bitcoin’s dominance stood at 61.26%.

This Morning

At the time of writing, Bitcoin was down by 0.67% to $10,724.9. A bearish start to the day saw Bitcoin fall from an early morning high $10,804.0 to a low $10,688.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a particularly bearish start to the day for the broader market.

At the time of writing, Binance Coin and Bitcoin Cash ABC were down by 3.16% and by 3.06% to lead the way down.

Bitcoin Cash SV bucked the trend early on, rising by 1.65%.

BTC/USD 16/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $10,795 pivot level to support a run at the first major resistance level at $10,946.

An early move back through to $10,800 levels would be needed, however, for Bitcoin to return to $10,900 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $10,944.0 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,094 before any pullback.

Failure to move through the $10,795 pivot would bring the first major support level at $10,647 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,500 levels. The second major support level sits at $10,496.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 13/09/20

Coins of crypto currency are presented on a dark background. Virtual money concept.

Binance Coin

Binance Coin surged by 46.36% in the week ending 12th September. Reversing a 15.11% tumble from the previous week, Binance Coin ended the week at $28.51.

It was a choppy but bullish start to the week. Binance Coin slid to a Sunday intraweek low $18.46 before making a move.

While falling through the 38.2% FIB of $19.4, Binance Coin steered clear of the first major support level at $16.20.

Off the back of an 18.93% rebound on Sunday, Binance Coin rallied to a Saturday intraweek high $28.59.

Binance Coin broke through the first major resistance level at $24.52 to visit $28 levels for the first time since August-19. The week’s rally also saw Binance Coin break through the 62% FIB of $27.3 to form a near-term bullish trend.

6 days in the green that included an 18.93% jump last Sunday and a 12.07% rally on Saturday delivered the upside in the week.

For the week ahead

Binance Coin would need to avoid a fall through the $25.19 pivot to bring the first major resistance level at $31.91 into play.

Support from the broader market would be needed for Binance Coin to break out from $30 levels.

Barring another extended crypto rally, the first major resistance level would likely limit any upside in the week.

In the event of another crypto rally, the second major resistance level at $35.32 could come into play.

Failure to avoid a fall through the $25.19 pivot would bring 23.6% FIB of $23.4 and the first major support level at $21.78 into play.

Barring a crypto sell-off, Binance Coin should steer clear of sub-$25 levels in the week, however.

At the time of writing, Binance Coin was up by 2.98% to $29.36. A bullish start to the week saw Binance Coin rise from an early Sunday morning low $28.12 to a high and new swing hi $29.53.

Binance Coin left the major support and resistance levels untested at the start of the week.

BNB/USD 13/09/20 Daily Chart

Litecoin

Litecoin rose by 6.31% in the week ending 12th September. Partially reversing a 16.06% slump from the previous week, Litecoin ended the week at $50.85.

It was a choppy start to the week. In spite of 2 consecutive days in the green, Litecoin fell to a Monday intraweek low $45.31 before making a move.

Steering clear of the first major support level at $40.52, Litecoin struck a Thursday high $49.49 before easing back.

Falling well short of the first major resistance level at $59.76, Litecoin fell back to sub-$48 levels before finding support.

At the end of the week, Litecoin rallied to a Saturday intraweek high $51.31 before easing back. In spite of the Saturday support, however, Litecoin continued to fall well short of the major resistance levels.

6 days in the green that included a 3.80% rally on Saturday delivered the upside. A 2.78% slide on Tuesday, limited the gains for the week, however.

For the week ahead

Litecoin would need to avoid a fall through the $49.16 pivot to support a run at the first major resistance level at $53.00.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $51.31.

Barring an extended crypto rally, the first major resistance level would likely limit any upside in the week.

In the event of a breakout, the 23.6% FIB of $54 would likely come into play. The second major resistance level at $55.16 should limit any upside, however.

Failure to avoid a fall through the $49.16 pivot would bring the first major support level at $47.00 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of the second major support level at $43.16.

At the time of writing, Litecoin was down by 0.20% to $50.75. A bearish start to the week saw Litecoin fall from an early morning high $50.93 to an early Sunday low $50.55.

Litecoin left the major support and resistance levels untested at the start of the week.

LTC/USD 13/09/20 Daily Chart

Tron’s TRX

Tron’s TRX rallied by 9.72% in the week ending 12th September. Following on from a 20.08% breakout from the previous week, Tron’s TRX ended the week at $0.03279.

It was a mixed start to the week. Tron’s TRX fell to a Sunday intraweek low $0.02770 before making a move.

Steering clear of the first major support level at $0.01926, Tron’s TRX rallied to a Wednesday intraweek high $0.03676.

While falling short of the first major resistance level at $0.4694, Tron’s TRX broke through the 23.6% FIB of 0.0291.

A bearish end to the week, however, saw Tron’s TRX slide back to $0.031 levels before wrapping up the week at $0.032 levels.

4 days in the green that included an 8.16% surge on Tuesday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall back through the $0.03242 pivot to support a run at the first major resistance level at $0.03713.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.03676.

Barring a broad-based crypto rebound, the first major resistance level would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.04148 and 38.2% FIB of $0.0428 should cap any upside.

Failure to avoid a fall back through the $0.03242 pivot would bring the 23.6% FIB of $0.0291 and the first major support level at $0.02807 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of sub-$0.020 support levels in the week.

The second major support level at $0.02336 should limit any downside.

At the time of writing, Tron’s TRX was down by 1.00% to $0.03246. It was a bearish start to the week. Tron’s TRX fell from an early morning high $0.03282 to an early Sunday low $0.03219.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

Tron's TRX 13/09/20 Daily Chart